All Forum Posts by: Terri Dyer

What do you mean by how many do I have (of what)?  You can, but in Georgia the couple lawyers I talked to said judges there rarely reward them in a suit.  I didn’t realize they could appeal it either; at least without just cause.  Because of course the loosing party is never going to agree with a judges decision, but that’s not a good reason.  But apparently in Georgia they can appeal and do an entire new case in the next highest court without any questions as to why the appeal.

Hi.  I sued them in Georgia Fulton county Magistrate as per what part of my loan documents said they were based & where they were under the authority of.   I just went to small claims and represented myself and only sued to get back the pre-payment penalty (which in the long run was a mistake for not asking for more).  The small claims judge lectured them for their “negligent at best bookkeeping practices & their attitude about the entire thing”.  I won in small claims representing myself.  Lima One, however appealed the decision to a higher court forcing me to get a lawyer.  Because I asked for so little lawyers basically told me I’d need $20,000 down & I had only asked for $10,000 (prepayment penalty).  They advised even winning I would spend more in lawyer fees than I’d get back and judges rarely award lawyers fees.  So I dropped it.  But the morals of it, they really need to be held responsible & accountable they can’t just not pay escrow funds allowing insurance to lapse is illegal.  I would love, if enough complaints eventually come in, the consumer protection agency would take them on as a class action law suit.

Update post on Lima One.  I took them to court where I won with the judge saying “their bookkeeping practices are negligent at best and their attitude about it appalling”.

They of course are now appealing and continue to try to bully me away. 

 I encourage anyone with these same experiences to file a complaint with The consumer financial protection agency.  With enough complaints they will investigate and file a class action suit against them.  In another forum someone is also reporting them to the Secretary of State (Georgia) and going to file with their lending license.  With enough complaints we can get somewhere and help others from ending up with the same nightmare putting their investment properties at risk and losing out on thousands of dollars because of their illegal business practices.  I have never had a lending company do any of the things I have experienced with Lima One.  The list went on and on.

Take a few minute to leave a review on their google.  But more importantly file online with consumer financial protection bureau, Secretary of State, and their lending license.

I’m looking for others that have had issues with Lima One lending.  Many of the issues I have had and seen Others on the forums include; them jacking up interest rates without informing the consumer right before closing.  Not paying escrow on properties.  Not providing statements, fees, lending documents, other information up front or at all.  This is all unacceptable and illegal lending practices.  I don’t want others to have to go through the same nightmare or risk your investments.

Please post your experience with them.  Also file a report online with the consumer financial protection bureau.  With enough complaints they will investigate them and can file a class action suit against Lima One.  I saw someone else who is also filing with the Secretary of State and whoever holds their lending license.  I’ll file with those places too this week.

I have won a law suit against them to get my pre-payment penalty back when I refinanced with a more reputable lender so my properties wouldn’t be put at risk anymore and the nightmare with them would be over.  I also tried to work with them on numerous occasions before it got to that point.  They however were only concerned about my end of the contract (prepayment penalty) not their responsibility for their part of the contract.

The judge said their “bookkeeping was negligent at best and their attitude about it appalling”.

They of course are now appealing the decision and continue to try to bully me into just going away.  It’s time something is done about their illegal lending practices. 

Kevin, if you have time file a report with the consumer financial protection bureau.  It’s easy you can do it online.  I’m hoping with enough complaints about Lima One about many of the same things they will start to investigate them and take it seriously and file a class action against them.  The judge lectured them that their “book keeping practices were negligent at best and their attitude about it appalling”. They of course continued with the attitude that there is nothing wrong with what they did and have appealed the judge’s decision.  But anyone in real estate knows it is illegal not to pay someone’s escrow.  The list of issues I had with them went on and on.  I have never had any of these issues with any lender ever, it was a nightmare.

Probably too late but I’d avoid them at all costs.  Closing was a nightmare and sticker shock with crazy fees and a last minute jump by 2% interest that they didn’t mention the title company caught it.  Constant issues.  To the last straw when they decided to not pay escrow on insurance on 2 homes and let them lapse.  A judge ruled in my favor lecturing them with “their bookkeeping is negligent and best and their attitude about appalling”.  Naturally they have appealed and trying to bully me away.

AJ.  Yes steer clear.  They decided not to pay my escrow among many other things.   I won a judgement against them, they are of course appealing and trying to bully me.  I’ve contacted consumer financial protection bureau, better business bureau. I encourage everyone to do so with a bad experience with them.  Maybe with enough we can get them investigated and a class action against them.

Yes, same issues as Mike!  Lima One Decided not to pay my escrowed insurance among a long list of other things.  A judge has ruled in my favor, Lima one is appealing and continues to bully me.  Report Lima One to the better business bureau, consumer financial protection agency, and whatever else we need to do.

Mike!  Yes, this was my final straw with them when they decided not to pay 2 of my escrowed insurances. I ended up paying them (again) myself out of pocket because they lapsed because they wouldn’t pay them.   It ended with me taking them to court to get my pre-payment penalty back. A judge ruled in my favor.  But of course they are now appealing it, bullying me, etc trying to get me to go away.  I’ve seen enough negative of same sort of things happening to others with Lima One. If more of us put pressure maybe we can get somewhere, or class action on them through consumer financial protection bureau.  We can chat or would you be willing to also file a claim on your experience with consumer protection bureau (you can do it all online).  And better business bureau.  I have done both but they need multiple complaints to do anything.

 Im trying with reporting them but not really getting anywhere.  I’m debating if it’s worth taking them to court over or not.?   I don’t want to be out even more money with lawyers fees but because of the morales of it and you are right they need to be held accountable for illegal practices and in-competence.